Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1887-04-14

which made possible monster aggrega
tions of the representatives of the ficti
tious standard of value, above alluded
to, I. e., money, within such unreason
ably short period Of time. as to clearly
and conclusively show an unheal thy
state of trade.
That the above is true, that the evil.
of the day are chiefly to be traced IL
the above causes, may be most easily
shown by few illustrations.
The money and things of value actu.
ally invested in the franchise plant, fix.
lures, wires, &c, of the Western Union
Telegraph Company is known TO De
abb ut twenty millions of dollars. This
corporation, however, by a mere vote
of its stockholders and directors, have
| injected into their capital what is call
Ell "aoater;" that is, they have capt.
allied their company at over eighty
is only one fourth of that sum, and
then charge the public, the balance OF
the aUorid for their services, at such a
rate as to be able to pay, after all ex-
penses are deducted, dividend of from
eight to twelve per cent, not upon the
money actually invested, which could
| be borne, hut upon the water as we'll.
From eight TO twelve per cent. upon
the eighty million is equivalent to
from thirty-two to weight per cent.
upon the actual investment. And this
is only one instance OF the watering or
over-ca apitaliZatIon of stock, and conse-
quent levying of toll and robbery
which has grown up by custom, un-
checked hy public opinion. and unre-
buked by law, which runs through
and pervades the whole system of cor
porate trade Of this country. There is
not a railroad corporation in the United
States, and they being common carri-
ers, and the controllers of the commerce
of the country, their exactlons in
charges are felt in increased cost Of
necess slies on every hearth and in ev-
DRY clearing, which is not over-capital-
lied (over watered) fifty per cent; and
that is not the only burden. The con-
sumers. in the indirect payment Of
freight, have not only to pay dividends
up N water, but they have also to pay
interest upon first, second and third
mortgages, and upon preferred stock,
in addition, often amounting altogeth-
er to twice or thrice the money actually
invested in building and repairing the
property. Then, again, by these same
laws of business or trade, under this
system OF mortgages, the owners of
ms jority of the stock (often being few
men) can, against the wishes of the
majority Of persons holding, cucumber
the property. then have the iDcum-
brance fnreclosed by a tool of their own,
and take in the property themselves,
thus squeezing out small holders, and
the holdings of the latter 60 to swell
the pile of the big scoundrels who
brought about the disaster. Hundred
naHliOnaircs are made in america an
this ao0y. Then, custom allows COM
mon carriers t, charge all the traffic
will bear; more, between points where
there is no competition in frei ght rates.
For instance, freight per car load is as
mucl between this point and st. Louis
as between this latter point and Hope,
Ark at which latter the Mississippi
completes with Gould. EUen he can't
get nature into a freight pool. Then.
again, these railroad owners are allow
ed by law to trade outside of their
sphere. They own, for instance, iron
and coal mines, and will haul for them
selves or their pets on special rates, for
less than their competitors, thereby, to
some extent, controlling the market
price of the commod tiles thus dealt in,
and thereby forcing competitors to the
wall, TILL to some extent, opposition is
killed and prices dictated, and the peo-
pie naulcted. Then, again, by the rules,
laws, and customs of trade pools are
allowed. To particularize: All the
coal lanl owners in given region,
from which large part of the country
is supplied. enter Into a bargain to ad-
vance tie price of their products two
dollars a ton above fair price and re-
fuse to sell bushel for less, boldly say
ing, "you can't help yourself; we have
combined, cons pired and confederated
against you; you must pay us this two
dollars above the actual value of our
coal or else you must shut down your
furnaces, close down your mills, and
tie up ycur steamboats," And at the
same time these other scoundrels are
in the courts and sending
to prison their poor laboring employees
for combining and confederating and
refusing to work for less than enough
t clothe their hungry children and fill
their empty stomachs. This is only
one instance Of another class of rules
and laws of trade. and its prototypes
are legion, nay ten thousand times
legion.
Another class. Tie man with mon
ev. goes into the bearpit of the exchange.
AMI then by gambling bets, hulls and
bears. raises or depresses the price OF
the staples. things produced and con-
sumed by the masses. thereby affecting
dIsastrausly all classes, consumers as
we'll as producers, that his already
n p'ethorc money bags may be over glnt-
ted with the riches another toiled for,
and all under the specious and honor
able name OF trade. And after ievying